Invesco and Galaxy reduced the fee for the spot exchange traded fund (ETF) they established for Bitcoin.
Founded by Invesco and Galaxy Asset Management and listed on the stock exchange BTCO Management fee of the fund traded with the code, from 0.39% to 0.25% was dropped.
Fund management fees have been a major issue in competition with spot Bitcoin ETFs, which are starting to trade at the same time in the US.
Invesco and Galaxy after the fund was established during the first 6 months or the total value of the fund Until it reaches 5 billion dollars He had already announced that he would not charge a fee.
Lowest management fee in the long term with 0.19% Franklin Bitcoin ETF (EZBC) taking. Grayscale Bitcoin Trust (GBTC) at 1.5% holding.
The total value of assets held in the BTCO fund is approximately $287 million. The value of both funds established by BlackRock and Fidelity is approximately $2 billion.